{"id":21520,"date":"2021-08-20T15:16:14","date_gmt":"2021-08-20T14:16:14","guid":{"rendered":"https:\/\/bigredcloud.com\/?post_type=docs&p=21520"},"modified":"2022-11-10T17:53:02","modified_gmt":"2022-11-10T17:53:02","password":"","slug":"initial-setup-of-nominal-ledger","status":"publish","type":"docs","link":"https:\/\/bigredcloud.com\/en\/documents\/initial-setup-of-nominal-ledger\/","title":{"rendered":"Initial Setup Of Nominal Ledger"},"content":{"rendered":"

No Nominal Journals\u00a0should be entered, particularly Opening Balances, until this initial setup procedure of the Nominal Ledger is complete in the accounting software.<\/p>\n

A number of steps are required to properly setup the Nominal Ledger:<\/p>\n

    \n
  1. Review the default Chart of Accounts, change as required.<\/li>\n
  2. Review the default\u00a0Control Accounts, change as required.<\/li>\n
  3. Assign a\u00a0Nominal Account\u00a0to each Analysis Category.<\/li>\n
  4. Assign a Nominal Account to each bank account.<\/li>\n<\/ol>\n

    When the Nominal Ledger\u00a0is enabled, it posts all the transactions to the the correct Nominal Accounts provided all Analysis Categories have been correctly assigned existing Nominal Account Codes.<\/p>\n

    A standard set up Nominal Accounts are provided in Big Red Cloud. \u00a0These can be added to or deleted to suit your company. \u00a0Your accountant will be able to advise you on setting up the Chart of Nominal Accounts for your company.<\/p>\n

    Once the Nominal codes have been setup, the Nominal option can be switched off again and the Nominal will be properly updated in the background.<\/p>\n

    Default Chart Nominal Accounts.<\/strong><\/p>\n

    To print the Chart of Accounts to screen click on the top menu select\u00a0Reports \/ Nominal Ledger \/ Chart of Accounts in the accounting software.<\/p>\n","protected":false},"excerpt":{"rendered":"

    No Nominal Journals\u00a0should be entered, particularly Opening Balances, until this initial setup procedure of the Nominal Ledger is complete in…<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"doc_category":[212],"doc_tag":[],"class_list":{"0":"post-21520","1":"docs","2":"type-docs","3":"status-publish","5":"doc_category-nominal"},"year_month":"2026-04","word_count":193,"total_views":0,"reactions":{"happy":0,"normal":0,"sad":0},"author_info":{"name":"apathak","author_nicename":"apathak","author_url":"https:\/\/bigredcloud.com\/en\/author\/apathak\/"},"doc_category_info":[{"term_name":"Nominal","term_url":"https:\/\/bigredcloud.com\/en\/docs-category\/nominal\/"}],"doc_tag_info":[],"yoast_head":"\nInitial Setup Of Nominal Ledger - Big Red Cloud<\/title>\n<meta name=\"description\" content=\"No Nominal Journals\u00a0should be entered, particularly Opening Balances, until this initial setup procedure of the Nominal Ledger is complete in the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bigredcloud.com\/documents\/initial-setup-of-nominal-ledger\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Initial Setup Of Nominal Ledger\" \/>\n<meta property=\"og:description\" content=\"No Nominal Journals\u00a0should be entered, particularly Opening Balances, until this initial setup procedure of the Nominal Ledger is complete in the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bigredcloud.com\/documents\/initial-setup-of-nominal-ledger\/\" \/>\n<meta property=\"og:site_name\" content=\"Big Red Cloud\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SimpleOnlineAccounts\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-10T17:53:02+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@BigRedCloud\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Initial Setup Of Nominal Ledger - 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